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Jersey Chamber of Commerce

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Category: Competition / Regulation  Financial  Local Business News  States of Jersey

Chief Minister's Statement Following Dame Margaret Hodge Visit

Dec 05, 2018

“The Minister for External Relations, Senator Ian Gorst, and I welcomed the opportunity to meet with Dame Margaret Hodge and Andrew Mitchell MP during their visit to Jersey yesterday. In recent months both Dame Margaret and Mr Mitchell have been vocal advocates for public registers of Beneficial Ownership, and the need for the Crown Dependencies and Overseas Territories to adopt them.

“The visit provided a useful opportunity for Dame Margaret and Mr Mitchell to meet with Government and industry representatives and to build a greater understanding of the processes the Island has in place for sharing information readily with law enforcement agencies around the world.

“This was a chance to reaffirm that Jersey is committed to combatting financial crime and that we have been recognised by leading international bodies for the quality and strength of our regulatory framework, and for our commitment to global standards on tax transparency and information exchange.

“The visit also enabled Dame Margaret and Mr Mitchell to hear more about the Island’s long-established constitutional relationship with the Crown, and to meet a broad cross-section of representatives from Jersey's vibrant business community.

“Finally, the visit provided an opportunity to learn how Jersey’s positive and early adoption of international standards is part of the Island’s global identity. Meetings with the Attorney General and Minister for International Development emphasised the role that the Island’s regulatory framework plays in assisting developing countries around the world by tackling financial crime and corruption.

“I believe that the visit was productive and informative for all participants. I also hope that our visitors will leave the Island in possession of greater understanding of Jersey’s efforts to tackle financial crime, and of the measures we are taking to ensure that we remain a robustly regulated and transparent international financial centre.”

States of Jersey Press Release.

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